Mike Bloomberg spent 500 million dollars on advertisements for a failed presidential bid. With this money, he could've given every American a million dollars, still have 173 million left over, and have made no discernible impact on his net worth.

It's absolutely an issue of the 1% versus everyone else, and especially given these people's opposition to providing basic social safety nets to all people.

EDIT:

I'm an idiot and didn't think through the math.